Bill > HB37

This bill revises the requirements for local government preliminary annual operating budgets, specifically focusing on property tax information disclosure. The bill mandates that preliminary budgets must now include the exact property taxes levied on $100,000 of residential property value from all mills (tax rates) in the prior budget year, as well as the estimated property taxes to be levied on the same property value for the current budget year. The bill removes a previous requirement that budgets detail property tax increases for homes of specific values ($100,000, $300,000, and $600,000) and replaces it with a more standardized reporting method using a $100,000 residential property value benchmark. Additionally, the bill maintains existing requirements for preliminary budgets, such as listing revenue, resources, expenditures, fund balance projections, capital expenditures, debt obligations, and personnel information. By providing more transparent and consistent tax information, the bill aims to help taxpayers better understand potential property tax changes and local government budget planning.

Government Affairs

https://bills.legmt.gov/#/laws/bill/20251/LC0234